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YOUR 2012 - In ONE Sentence

danoodle

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100 consecutive push ups without any resting or breaks, 20 consecutive marine corps defined pull ups, increase my "passive" income stream from $1650 per month to 4k, and help others achieve their greatest potential.

Here's to a great 2012, cheers! :)
 
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Imon32red

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By the end of 2012 I will have at least $25,000 a month in passive income.

I am new to the forum but not new to Fastlane ideas. A couple of years ago I came up with an internet business idea. I made my first sale and told everyone about it. Of course they all thought I was nuts. A year later they were asking me to teach them to do what I did. I averaged about 10k a month in 2011, and hadn't worked since 2010. Well that business is finally coming to an end and now I am gearing up my new business for 2012.

Good luck everyone.
 
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Atom

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The "don't state your goals out loud" concept is misinterpreted. If your read the last two sentences you'll see that Sivers starts to clarify.

The key is to not state your goal in a way that makes you feel you've already accomplished something. If your goal is SMART instead of vague and empty - stating your goals out loud is helpful.

I see people posting "I will start a passive income" or similar - I can almost guarantee that they will not accomplish anything. Why? Because their goal is too broad, shallow, and based on 'fluff' that sounds nice. It is said purely to make them think better about themselves - exactly what Sivers is talking about, as just pretending that they have a goal makes them feel like they have already accomplished something.

Actually, that's not what I understood to be the point of the article at all.

What he said was essentially, "When someone who makes their goals public receives positive social encouragement, this encouragement is usually just enough to dissuade the person from achieving them."

According to the article, had I left my original post untouched and received social recognition for it, I would've been unconsciously demotivated from pursuing and achieving the goals outlined therein.
 

SlimTycoon

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In 2012- by December 31st.............I will have purchased my FIRST of many businesses that earn at least $25million in annual sales with 20%-40% profit margins.
 

CPisHere

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Actually, that's not what I understood to be the point of the article at all.

What he said was essentially, "When someone who makes their goals public receives positive social encouragement, this encouragement is usually just enough to dissuade the person from achieving them."

According to the article, had I left my original post untouched and received social recognition for it, I would've been unconsciously demotivated from pursuing and achieving the goals outlined therein.
I don't know what your original post was, but the social encouragement is NOT the most important factor.

There's a lot of research that shows that stating your goals out loud IS productive to helping you achieve them.

The difference is when you receive social support for vague claims without specifics and actions (that just make you feel good about yourself and won't actually help you reach them), vs specific, attainable goals and people who hold you accountable to ACTING on them (which leads to a feeling that you can't let others down, and will help you reach them).
 

CPisHere

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In 2012- by December 31st.............I will have purchased my FIRST of many businesses that earn at least $25million in annual sales with 20%-40% profit margins.
Are you buying a business that already has $25 million in sales, or are you buying a business you hope to grow to $25 million?
 

Atom

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I don't know what your original post was, but the social encouragement is NOT the most important factor.

There's a lot of research that shows that stating your goals out loud IS productive to helping you achieve them.

The difference is when you receive social support for vague claims without specifics and actions (that just make you feel good about yourself and won't actually help you reach them), vs specific, attainable goals and people who hold you accountable to ACTING on them (which leads to a feeling that you can't let others down, and will help you reach them).

"Announcing your plans to others satisfies your self-identity just enough that you're less motivated to do the hard work needed." - The Article

Stating them out loud is productive, but to yourself, not to other people.
 

SlimTycoon

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Hey Cparsons, thanks for the question.


Buying them. Just a FYI, I've spent that last 12 years of my career as a Mergers and Acquisitions adviser. My background is Finance-Leveraged buyouts, mergers, acquisitions and private equity. Once you get a taste of how deals get done, starting businesses from scratch becomes an after thought. I wanted to mention just to add some perspective.

I have no desire whatsoever to get involved with start-ups. I'm not a start-up kind of guy. I know about going concerns. I selected $25 million because it's a good starting point but over time the purchases will be bigger and should be. You can grow a $25 million business to $300 million in 3 years. Sell it and cash out. That's my plan. Rinse and repeat. The amount of opportunities that are available to the savvy business person or financier is staggering.


I hope that answers your question.



Good luck!
 
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SlimTycoon

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This. I hate starting from scratch. I keep doing it though...


Some businesses are great for starting from scratch. Assuming that it is innovative. I would not start a business from scratch especially if there are similar businesses available to buy. That includes e-commerce.


MOST businesses that people want to start are not innovative.

I like going concerns because you IMMEDIATELY start collecting cash flow and entering fragmented industries means there is a lot of room for building a BIG business through consolidations and mergers.

Blockbuster, AutoNation, Waste Management, Cardinal Health,etc......were all built that way.

I'm a big business guy because that's the environment that I've worked in. I don't like small business and all of the "conventional wisdom" people preach about "small business".

Big businesses get big from buying other businesses, not running PPC ads, sending out sales letters, doing SEO, territory sales reps, etc.....that's internal growth.

External growth is where the money is. Leave the internal growth stuff the the "so-called" marketing "experts"( and I use the term experts loosely) and your marketing director.
 
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Michael W.

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Some businesses are great for starting from scratch. Assuming that it is innovative. I would not start a business from scratch especially if there are similar businesses available to buy. That includes e-commerce.

Exactly.


MOST businesses that people want to start are not innovative.

Yup. Especially my current gig. lol


I like going concerns because you IMMEDIATELY start collecting cash flow and entering fragmented industries means there is a lot of room for building a BIG business through consolidations and mergers.

Blockbuster, AutoNation, Waste Management,

I love Wayne Huizenga


I'm a big business guy because that's the environment that I've worked in. I don't like small business and all of the "conventional wisdom" people preach about "small business".

Big businesses get big from buying other businesses, not running PPC ads, sending out sales letters, doing SEO, territory sales reps, etc.....that's internal growth.

External growth is where the money is. Leave the internal growth stuff the the "so-called" marketing "experts"( and I use the term experts loosely) and your marketing director.

Absolutely agree. I am confident I could go in to an ongoing operation and find ways to improve it. Thats what I've been good at all my life. Improving operations. Getting big by acquisition is my holy grail.
 

BJProducer

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In 2012, I will dedicate at least 30 minutes a day to the process of learning, coordinating & growing my business & business system into the great vision that I have for it, which will include, over time, impacting millions!

(Additionally: By age 33, I will have, at the very least, made my first million and will be several miles per hour closer to complete FREEDOM!)
 

BJProducer

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I was just wondering if you would be open to discussing what type of business you HAD started before? Why is it now coming to an end? Hope that's not too "nosey," I'm just curious and wondering if there's something to learn from your initial experience.
 
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mmtprofile

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Marketing actions, creating excellent content for my members site, creating an affiliate program with focus and discipline.
 

Gina

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Achieve my set goals

To be the best i have ever been and make a difference in someone or people's life.
 

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